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Board approves $4.332 million drainage bond to finance two county ditches
Summary
The board voted to approve a resolution allowing financing of County Ditch No. 3 and No. 21 totaling $4,332,000 with flexible repayment (10 years for ditch 3 assessments, 15 years for ditch 21); closing was scheduled for Oct. 23 and the chair was authorized to sign closing documents.
Grant County commissioners approved a resolution authorizing financing for two drainage projects after a staff presentation and a roll-call vote.
A representative of the Boise Sioux Watershed District summarized the bid selection and financing terms: a total financing amount of $4,332,000, a 15-year bond term with two separate special-assessment schedules (10 years for County Ditch No. 3 and 15 years for County Ditch No. 21) and flexible prepayment options for landowners who wish to pay assessments early. The presenter said closing was scheduled for Oct. 23 and requested that the board move the resolution forward for signature.
A motion to approve the resolution was made and the board conducted a roll-call vote. Commissioners recorded in the roll call — Ken, Troy, Bill, White and Doyle — voted in favor; the motion carried. The watershed representative said closing documents would be provided to the chair for signature.
After the vote the county auditor asked about the administrative route for reimbursing the watershed district for work already completed. The auditor and board agreed it would be appropriate to process timely reimbursement to avoid delays to the project, with copies of invoices provided to commissioners for transparency.
